CBA Household Spending Intentions for March

COVID-19 is having a dramatic impact on household spending on goods and services in the Australian economy. Stephen Halmarick, Chief Economist and Head of Global Economic & Markets Research and Belinda Allen, Senior Economist discusses the CBA Household Spending Intention series for March.  This series combines CBA credit and debit card data and publicly available Google Trends search data to drill down into seven categories of household spending - Retail, Health & Fitness, Home Buying, Education, Travel, Entertainment and Motor Vehicles. The results are surprising and provide unique insights to how COVID-19 is shaping household spending decisions.

To find out more on the Household Spending Intention series visit https://www.commbank.com.au/business/latest/spending-intentions.html 

 

DISCLAIMER

Before listening to this report, you are advised to read the full Global Markets Research disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not intended to be an investment research report. The information contained in this report is approved and distributed by Global Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. The data used in the ‘Commonwealth Bank Household Spending Intentions’ series is a combination of the CBA Data and publically available Google Trends™ data. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, credit card transaction data, merchant facility transaction data and applications for credit. As the statistics take into account only the Bank’s data it may not reflect all trends in the market. All customer data used, or represented, in this report is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.